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BANKING

BankFive recognized for SBA lending

LEFT TO RIGHT: BankFive‚Äôs Paul Medeiros, SVP senior lender; Joan Medeiros, VP commercial services; and Bill Eccles, president & CEO. They hold the SBA Minority Lender of the Year award.

COURTESY BANKFIVE

Posted:
Tuesday, February 21, 2012 9:39 am

By PBN Staff

FALL RIVER ‚Äď For the third consecutive year, BankFive has been named both the minority lender of the year and the top lender in Bristol County by the U.S. Small Business Association.

The achievements recognize both the bank‚Äôs total number of loans and dollar amount loaned for the fiscal year of 2011. In August 2011, the SBA also named BankFive as a preferred lender in the preferred lenders program, allowing access for a broader range of products and quicker access to capital.

Last year BankFive made 26 SBA loans totaling more than $4 million, putting it at the top of the list for Bristol County, and 14th statewide.

BankFive's loans included America‚Äôs Recovery Capital loans, a temporary program to help small businesses through the recent economic uncertainty, and 7(a) loans aimed at helping start-up and existing small businesses.

‚ÄúWe are extremely proud of being named minority lender of the year and our position as the top SBA lender for Bristol County,‚ÄĚ said William R. Eccles Jr., president and CEO.

‚ÄúThe programs offered by the SBA can have a tremendous impact on the local business community, and our preferred lender status with the SBA enables BankFive to directly help the small and medium-size companies that are the economic engines of the south coast.‚ÄĚ

BankFive was also named Minority Lender of the Year in 2004, 2007, 2009 and 2011, and Lender of the Year for Women-Owned Businesses in 2005.

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